25 



Recapitulation of the Results Deduced from the Test Farm of Eight Acres, 

 Conducted on the Lines of Procedure (Absolutely Realised as Facts) on the 

 Wilton House Farm, and the Average Cropping of the Kingdom — the Result 

 of Cereals being Estimated from Sir J. Lawes' Deductions ; and the Conversion 

 of Hay, Root, and Green Crops into Meat are taken from a Comparative Ratio 

 of Averages for Meat Products Realised on the Wilton House Home Farm, 

 the Ratio of Cereals being Sir J. Lawes' Estimates. 



AI 



1) 



DI 



Definition of Test. 



Total Gross 



Products at 



Realised 



Prices, 



1850 to 1873 



Total Nett 



Products at 



Realised 



Prices, 



1850 to 1873. 



Total Nett 



Products 



being at 



Cost of 



Production 



Criterion 

 aimed at in 

 the Scheme 



for 

 Increased 

 Production 



Total 

 Products at 



Gazetted 

 Prices with 

 Smith field 

 Quotations 



for Meat. 



Total 



Products at 



Gazetted 



Prices with 



Local 

 Quotations 

 for Meat. 



Percentage realised"" 

 on an 8- Acre Farm 

 for Cereals and 

 Meat Products 

 combined in com- 

 parison with Pro- 

 fessor Elliot's 

 Analysis of Wil- 

 ton Home Farm 

 Account of £115 ] 

 15s. 8d., or £14 

 9s. 5 Jd. per Acre, 

 employed as per 

 Folios 9 and 10... 



Percentage realised 

 in an Estimate for 

 the Average Pro- 

 ducts for Cereals 

 and Meat Pro- 

 ducts in the king- 

 dom on a Capital 

 of £80, or £10 an 

 Acre, employed as 

 perFols.l7&18C 



Profit 



19 17 Of 



14 18 1 



10 8 If 



£ s. d. 



10 2 9| 



& s. d. 

 4 10 7 



d. 



9 8 3§ 



Loss, 



Profit 



9 14 \\ 



3 19 8\ 



Loss. 



19 0i 



7 12 3i 



1 16 3 



Notwithstanding the foregoing (varied circumstances as they stand) 

 facts, the national scare on the Land Question, which has so universally 

 prevailed throughout the kingdom, the records of which are here criticised, 

 does not satisfactorily account for the consequences which have arisen. 

 The Corn Laws were abrogated in 1846, but Protection prices in cereals 

 were kept up until 1873, and subsequently to 1883 ; while in this latter 

 period the meat products were augmented in price, as shown in Professor 

 Elliot's analysis in the second section of the Wilton House Home Farm 

 account. This transition period may, however, be said to have set in 

 between 1873 and 1883, while the importations of cereals and meat 

 products were so excessive as to induce farmers working upon borrowed 

 capital to abandon their holdings, being convinced that with extreme 

 low prices they could no longer follow their occupation. 



These results were precipitated by money-lenders withdrawing their 

 aid from the farmer, seeing that with low prices bankruptcy would be 

 the inevitable result. The delusion arising through Protection prices is 

 made manifest by widespread facts, and it becomes evident that ample 

 capital is essential in profitable farming. 



